Oil Slips for Second Day With Focus on Geopolitical Risks, Iran
- France says Russia assured no more escalation with Ukraine
- WTI futures fall 2.2% on Tuesday following Monday’s retreat
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Oil fell sharply as traders weighed ongoing tensions in Eastern Europe and the resumption of Iran nuclear talks.
West Texas Intermediate futures declined 2.2% in New York trading on Tuesday. French President Emmanuel Macron said that he received assurances from his Russian counterpart Vladimir Putin that he would not escalate the situation further with Ukraine, while Moscow cast doubt on his comments. Additionally, Iran’s nuclear talks appeared to gain momentum.